Advanced Chart Patterns Tracker

NO REPAINT ADVANCED CHART PATTERN INDICATOR

By definition, a price ( chart)  pattern is a recognizable configuration of price movement that is identified using a series of trendlines and/or curves.

When a price pattern signals a change in trend direction, it is known as a reversal pattern; a continuation pattern occurs when the trend continues in its existing direction following a brief pause.

Advanced Chart Pattern Tracker is designed to find the MOST ACCURATE patterns. A special script is added to eliminate the LOW ACCURACY pattterns.

Apart from patterns such as Flag, Wedge and Triangle, it is designed to find Harmonic Patterns breakdowns with more advanced Elliott Wave calculations.

List of the classical chart patterns :

DOUBLE TOP

DOUBLE BOTTOM

RISING WEDGE

FALLING WEDGE

BROADENING WEDGE

SYMMETRICAL TRIANGLE

ASCENDING TRIANGLE

DESCENDING TRIANGLE

HEAD AND SHOULDERS

FLAG PATTERNS / PENNATS

Advanced Harmonic Waves  Patterns:

5TH CYCLE PATTERN

BLACK SWAN RUN PATTERN

CYCLE REVERSAL PATTERN

ABCD BREAKOUT

INPUTS:

ZZ Inputs Recommnded Depth Deviation Backstep : 12 5 3 and 21 16 8

Note: For the patterns with smaller targets and stop loss 5 5 3 and 7 5 3 are recommended

Color of Pattern Lines : Color of the ZZ Legs

Color of Trend Lines : Color of the trendlines of the pattern to watch the potential breakouts.

Color of Entry, Targets and Stop Loss can be changed.Depending on the pattern's structure more than one target can be seen. ( TP1 TP2 and/or TP3)

Structural Stop Loss is mentioned by SL Line. ( You can set different color for SL )

Dots on the chart refer to the pattern which is potentialy forming. Level of those dots can be changed or they can dissappear.

By moving the cursor on the dot, you will be able to read the type of the pattern which is being formed.

Arrows appears as soon as price breaks and closes above/below the pattern's line.

When you see the arrow, it means that pattern is active .

Alert will come when a pattern is being formed and when it becomes activated.

• Indicator is very user friendly.
• No Repainting
• Works on everytime and every instrument.
• Very High Accuracy
• Apply the indicator onto the chart and select the type of chart patterns you wish to track. 
• Full Alert options including mobile alerts.

Structural targets and stop loss levels are drawn on the chart for the patterns.

After checking the risk/reward ratio,  you can trade easily and with high accuracy.

Note: Since the indicator reads big data, it is not recommended to change "number of bars" or set bigger than "300"

Videos : https://www.mql5.com/en/blogs/post/747357

For further questions, please conctact us!